Small SUV Average Transaction Prices Weaken, Despite Year-Over-Year Sales Growth; Expect Further Discounts, According to Kelley Blue Book
IRVINE, Calif., Sept. 4, 2018 /PRNewswire/ -- The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles in the United States was $35,541 in August 2018. New-vehicle prices increased by $643 (up 1.8 percent) from August 2017, while remaining flat (up 0.1 percent) from last month.
"Average transaction prices are up for the industry, as most manufacturers reported gains from the sales mix continuing to shift from cars to SUVs," said Tim Fleming, analyst for Kelley Blue Book. "However, despite the nearly 20 percent sales growth for compact and subcompact SUV segments this year, prices in these segments flatten or even slightly decline in August, likely a reflection of today's extremely competitive landscape and the abundance of new models available. Moving forward, the industry could see further discounts and incentives in these utility segments, as automakers continue to focus their attention on placing their products at the top of consumers' consideration lists."
|
Manufacturer |
August |
July |
August |
Percent |
Percent |
|
American Honda (Acura, Honda) |
$28,671 |
$28,699 |
$27,513 |
-0.1% |
4.2% |
|
Fiat Chrysler (Alfa Romeo, Chrysler, Dodge, Fiat, Jeep, RAM) |
$38,027 |
$38,014 |
$37,163 |
0.0% |
2.3% |
|
Ford Motor Company (Ford, Lincoln) |
$40,317 |
$40,646 |
$39,106 |
-0.8% |
3.1% |
|
General Motors (Buick, Cadillac, Chevrolet, GMC) |
$40,345 |
$40,265 |
$38,832 |
0.2% |
3.9% |
|
$24,968 |
$25,059 |
$24,719 |
-0.4% |
1.0% | |
|
Nissan North America (Nissan, INFINITI) |
$29,607 |
$29,439 |
$29,861 |
0.6% |
-0.9% |
|
$29,214 |
$29,339 |
$28,684 |
-0.4% |
1.8% | |
|
Toyota Motor Company (Lexus, Toyota) |
$32,498 |
$32,522 |
$31,776 |
-0.1% |
2.3% |
|
Volkswagen Group (Audi, Volkswagen, Porsche) |
$40,486 |
$40,378 |
$39,502 |
0.3% |
2.5% |
|
Industry |
$35,541 |
$35,514 |
$34,898 |
0.1% |
1.8% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
American Honda performed best for August 2018 as average transaction prices climbed 4 percent year-over-year. The new Accord rose 4 percent and the Civic posted solid pricing improvement, up 3 percent. Acura was up 3 percent on the strength of the redesigned RDX, which jumped 11 percent.
General Motors also was among the most improved at 4 percent year-over-year, with the Chevrolet brand rising most at 5 percent. Chevrolet was helped by a strong mix of Silverado HD sales, which pushed the Silverado's average transaction prices up 6 percent. The redesigned Traverse also continues to perform well, rising 13 percent.
The only major automaker to drop, Nissan fell 1 percent in August 2018 with the Nissan brand down 1 percent, while INFINITI was up 2 percent. Although Nissan Rogue transaction prices increased 2 percent, the Altima was down 1 percent, as its next generation is scheduled to come to market soon. In addition, the new Kicks subcompact crossover brought down Nissan's average prices due to its low starting price. The redesigned QX50 reported big numbers for INFINITI, rising 23 percent, and helped offset declines from most of the brand's lineup.
|
Segment |
August |
July |
August |
Percent |
Percent |
|
Compact Car |
$20,493 |
$20,392 |
$20,344 |
0.5% |
0.7% |
|
Compact SUV/Crossover |
$28,409 |
$28,413 |
$28,378 |
0.0% |
0.1% |
|
Electric Vehicle |
$37,187 |
$37,100 |
$36,982 |
0.2% |
0.6% |
|
Entry-level Luxury Car |
$42,201 |
$42,062 |
$42,227 |
0.3% |
-0.1% |
|
Full-size Car |
$34,895 |
$35,080 |
$34,148 |
-0.5% |
2.2% |
|
Full-size Pickup Truck |
$48,813 |
$48,555 |
$47,414 |
0.5% |
3.0% |
|
Full-Size SUV/Crossover |
$61,383 |
$61,436 |
$60,571 |
-0.1% |
1.3% |
|
High Performance Car |
$102,823 |
$99,525 |
$97,258 |
3.3% |
5.7% |
|
High-end Luxury Car |
$96,671 |
$97,439 |
$94,090 |
-0.8% |
2.7% |
|
Hybrid/Alternative Energy Car |
$27,103 |
$27,166 |
$26,549 |
-0.2% |
2.1% |
|
Luxury Car |
$57,389 |
$58,658 |
$56,814 |
-2.2% |
1.0% |
|
Luxury Compact SUV/Crossover |
$45,139 |
$45,003 |
$43,485 |
0.3% |
3.8% |
|
Luxury Full-size SUV/Crossover |
$87,112 |
$88,210 |
$83,971 |
-1.2% |
3.7% |
|
Luxury Mid-size SUV/Crossover |
$55,337 |
$55,443 |
$55,030 |
-0.2% |
0.6% |
|
Mid-size Car |
$25,395 |
$25,522 |
$24,942 |
-0.5% |
1.8% |
|
Mid-size Pickup Truck |
$33,762 |
$33,549 |
$32,750 |
0.6% |
3.1% |
|
Mid-size SUV/Crossover |
$38,303 |
$38,142 |
$37,710 |
0.4% |
1.6% |
|
Minivan |
$35,192 |
$35,311 |
$33,475 |
-0.3% |
5.1% |
|
Sports Car |
$35,555 |
$35,831 |
$34,613 |
-0.8% |
2.7% |
|
Subcompact Car |
$15,016 |
$14,959 |
$14,908 |
0.4% |
0.7% |
|
Subcompact SUV/Crossover |
$24,015 |
$23,902 |
$24,152 |
0.5% |
-0.6% |
|
Van |
$35,596 |
$35,849 |
$34,895 |
-0.7% |
2.0% |
|
Grand Total |
$35,541 |
$35,514 |
$34,898 |
0.1% |
1.8% |
|
*Kelley Blue Book average transaction prices do not include applied consumer incentives | |||||
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Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides market-reflective values on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Kelley Blue Book® Price Advisor tool, which provides a range for what consumers can reasonably expect to pay for a vehicle in their area. Car owners looking to sell immediately can also get a redeemable, transaction-ready offer with Kelley Blue BookSM Instant Cash Offer. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book is a Cox Automotive brand.
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SOURCE Kelley Blue Book
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